According to experts Millennials are once again going to be one of the largest groups of home buyers in 2018. As more Millennials reach their 30s and start to put down roots they will be looking to purchase their first homes. And others will be looking to sell those starter homes and upgrade to a midsize or larger family home to accommodate their growing families. But getting Millennials interested in homes takes more effort than just pointing out the family friendliness of the property. Here are a few insider tips for marketing homes to Millennials:
Play Up The Nostalgia Factor
Many of today’s Millennials grew up in single-family homes in the suburbs where they had traditional features like lawns, bike paths, and other amenities. If Millennial buyers can’t afford the huge new construction homes that they see on Pinterest and social media you can get them interested in well built older homes in their price range by playing up the nostalgia factor of the homes. By showing them older homes in quiet neighborhoods that are well-established you can invoke that family feeling and get Millennial buyers to consider homes that might not have all the tech features or open space that they want but can’t afford.
Another approach that you can take to get Millennial buyers interested in older homes that are in their price range is to point out the retro style and original finishes of the homes. Many Millennial buyers are entranced with mid-century modern homes. To find homes for them that have a lot of retro details and if possible the original design features from the 60s and 70s and the Millennials will love those homes. Make sure that you point out that the homes could be social media worth with the right vintage and period accessories and furniture. Also, point out that they can customize those older homes more easily than they could customize new homes without breaking their budgets.
Millennials grew up with college debt, few job prospects and other economic stressors. So they learned early on the value of money. Older homes that don’t have new fancy finishes or the always popular open concept floor plan can still attract Millennial buyers. You just need to show them how affordable those older homes can be. Millennials will love the idea of having a house that isn’t going to put them into a ton of debt, especially with an always uncertain job market. Most Millennials are happy to compromise on their must-have lists in order to find a home that is affordable with the budget that they have. You should also point out tax advantages and other financial advantages that come with buying an older home.
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